Tag Archives: children

How to Earn Income in High School

The benefits of high school students earning income are well documented. Not only does this allow young people to assume responsibility and grow as individuals, but making money also prepares high schoolers for the real world. As adults, young people will have to work and be able to earn enough money to support themselves and provide a suitable, comfortable life.

High schoolers should want to get a head start and moreover, this is something which parents and guardians should encourage. However, there are still certain rules and laws regarding work for underage minors. Learning how to abide by the aforementioned guidelines while simultaneously earning income is guaranteed to set young people up for incredible success.

Look into Working Odd Jobs

Some of the best money making opportunities for young people come in the form of odd jobs, explains Well Kept Wallet. This is attributed to the fact that high schoolers are completely inexperienced with working and must also maintain their academics in school.

Some of the best odd jobs include babysitting, pet sitting, restaurant work, dog walking, washing cars, working in retail, etc. While these jobs don’t necessarily pay the highest fees, they are very educational experiences and breed a strong work ethic. This will prove to be beneficial, especially after high schoolers mature and enter the real world.

Get an Internship

Contrary to popular belief, internships are not mutually exclusive to college students. There are a slew of high school internships which are available for young people. Many of these internships also offer compensation; this can be a great opportunity for students who are eager to learn, grow, and network. There are countless stories of young people getting internships and developing lifelong relationships with impactful mentors.

This is certainly something which success-minded high schoolers should look into.

Look into Entrepreneurship

While many high school students are encouraged to attend college and eventually work a traditional 9 to 5 job, this lifestyle is not for everyone. There are some young people who have the entrepreneurial spirit and they should explore that spirit. Entrepreneur advises students who are interested in starting their own businesses to seek out mentors, involve themselves in extracurricular activities, and familarize themselves with leadership and marketing.

A Final Word

The world we live in is changing and evolving with each passing day. There are many opportunities out there and it’s never too late to get started. Young people who begin earning income while they are still in high school will definitely have an advantage over their peers who fail to make the most of these opportunities.

Parents also play an integral role in the economic success and advancement of their children. While young people can and should do everything in their power to take advantage of opportunities, support and encouragement from parents or guardians will make all the difference in the world.

 

Authored by Gabrielle Seunagal

How to Financially Plan for Having Children

Having children is one of the most significant milestones in the life of any adult. In the best case scenarios, knowing that a baby is on the way can be very exciting and even a little nerve-wracking. However, without the proper financial planning, excitement can quickly become stress while nerve-wracking can morph into downright terrifying. This is why financial preparation for the newest member(s) of the family is absolutely imperative.

Understand that Children are Incredibly Expensive

Virtually everyone has heard the infamous phrase: “Kids are expensive.” Many people even believe it and rightfully so. However, hearing that children are pricey and getting a numerical breakdown of the associated, ongoing costs of childcare are two different things. The exact digits can help people understand the gravity of the costs which will definitely become real.

Anyone who is preparing to have kids needs to, at the very least, have an idea of the specific average costs. Thankfully, Discover thoroughly breaks down each facet of childcare and how much they amount to. For instance, the average annual expenses of raising a child within the first two years cost over $12,600.

This breaks down to the following average, yearly costs: $2,900 for education/childcare, $1,800 for transportation, $800 for clothes, $3,700 for lodging, $1,600 for food, $1,200 for healthcare, and $900 for various other expenses. Granted, these costs can be higher or lower depending on assorted factors, but nevertheless, the aforementioned costs provide an idea into how pricey it is to care for one child just within the first 24 months.

Have a Plentiful Emergency Fund Stashed Aside

An emergency fund is paramount for all adults; however, it becomes fifty times more critical when a baby is involved. The truth is that no matter how much money is carefully budgeted out, unforeseen costs have a way of arising, especially when babies are involved. According to USA Today, new parents are advised to save up to [at least] six months of living expenses in the event of any crises or urgent matters. Even after the arrival of the baby, the aforementioned emergency fund should not be touched unless it is absolutely necessary.

Ensure the Existence of Steady, Reliable Income

While budgeting and saving money are incredibly important financial planning steps for having children, the positive impacts are severely counteracted without the existence of steady and reliable income. This is why Money Crashers recommends for expecting parents to have ongoing pay and preferably an established position, particularly if one works in a company.

Each family has varying work situations and what is applicable to some parents may not be suitable for others. While each circumstance and career path is different, steady and reliable income is utterly paramount when starting and expanding a family.

A Final Word

Children are a blessing to any loving couple who is ready to grow as a family. The ability to enact strategic financial plans is guaranteed to make raising kids much easier and stress-free than it would be without any preparation. Understanding the expenses associated with children, maintaining a healthy emergency fund, and ensuring streams of reliable income will make a significant impact. Although the ups and downs of parenthood are unavoidable, even with the best of plans, following the foregoing steps will prevent many problems both in the short-term and the long-term.